Charlotte Daily Short: Nationwide Foreclosures Down, Sales of More Expensive Properties Up Per National Association of Realtors®

NAR comparison of home sales in
Jan 2015 vs Jan 2016 (via KCM Blog)

According to the National Association of Realtors® (NAR), January home sales have increased year-over-year in the four highest price categories, beginning at $250,000 and higher.

Sales prices in the typical starter-home price-range ($100,000–$250,000) have dipped slightly nationally while the biggest drop in home sales is in properties priced under $100,000.

Per Keeping Current Matters:

Some Highlights: 

  • Home Sales are up year-over-year in the top 4 price ranges and only slightly below last year’s numbers in a fifth.
  • A lack of distressed property inventory has led to a slow down in sales in the under $100K price range.
  • As home prices continue to rise, there will be less homes available for sale in the lower ranges.

Here’s a look at home sale trends by price in the Charlotte area in the past five years:

As foreclosures have decreased, home sales under $100,000 are at their lowest point since before January 2011.

Charlotte Home Sales >$100,000

Charlotte’s sweet spot is in the $100,000 — $250,000 range with steady growth and the highest number of sales per month. Notice the time of year when most properties are closing.

Charlotte Home Sales ($100,000-$250,000)

As new construction increases and as values continue to rise, the $250,000 and up price range has seen a surge in the past five years and I expect this upward trend to continue.

Charlotte Home Sales ($250,000+)

And just because you wanted to know how Charlotte’s $1 Million-Plus market is performing, it, too, is on the rise, peaking the previous two summers.

Charlotte Home Sales ($1 Million+)

About the Author:

Jimmy Grappone is a Realtor® living in the Charlotte area for nearly a decade. 

His hobbies include fishing, playing golf, watching football, and exploring the Carolinas.

Jimmy is a licensed Realtor® with Allen Tate Company in North Carolina and South Carolina. 

He is passionate about helping his clients find their way home!
Contact the Author:
Twitter & IG: @jimmygrappone
Phone:  980-298-9385


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